Washington has lifted nearly all of the economic sanctions imposed against Myanmar
The U.S. decision to lift a ban on exports from Myanmar could give the country its best shot at becoming the world’s next low-cost manufacturing hub as well as firm up the fragile political reforms now taking place. More…
Myanmar President Thein Sein
(Reuters) – Myanmar President Thein Sein plans to reshuffle his cabinet and appoint a new vice-president to reduce the influence of anti-reform ministers and accelerate changes in the former pariah state, several lawmakers said.
The imminent reshuffle could sideline some hardliners by reducing their responsibilities in the 37-member cabinet or give them new roles, said the lawmakers. More…
Until recently, Myanmar had been under military rule for over four decades
This article was originally published on 3 April 2012
For most Canadians, Burma (or Myanmar) is an exotic and repressive country out in Asia somewhere between Thailand and India, run by a ruthless military junta primarily known for violently crushing any opposition and keeping Nobel Peace Prize winner and honorary Canadian citizen Aung San Suu Kyi under endless house arrest. More…
Central Bank of Myanmar began a managed float of the Kyat in April
Western countries are beginning to lift and/or suspend decades-old economic sanctions again Myanmar following numerous economic and political reforms, reports Seeking AlphaIn an article entitled “Myanmar is Off to A Promising Start”. The most significant reforms that may have long-lasting economic implications for the region include currency unification, Central Bank reform, and telecommunications licensing. For in-depth analysis of these reforms, and their impact on the overall investability of Myanmar, please read the full article here. More…
Reposted from AFG Venture Group Dispatches
There has been an increasing amount of column inches devoted to the changes which have occurred in Myanmar, and as one who has had a commercial contact with the country since 1994 when we opened our first office in Yangon, and in 1998 when we first produced the Myanmar Business Guide, the changes which have occurred over the last several years are certainly worthy of comment. More…
Reposted from Network Myanmar
By Derek Tonkin
As expected the EU Foreign Affairs Council agreed to suspend ‘restrictive measures’ against Myanmar, with the exception of the arms embargo, at their meeting on 23 April 2012. The detail will be set out in regulations to be published later this week. In order to suspend sanctions during the coming year, the first essential will be renew them formally, and then suspend them, since otherwise they would lapse completely on 30 April 2012. More…
Parliament building in Naypyitaw, Myanmar
The New York Times has reported that the European Union (EU) has decided to suspend the majority of its punitive sanctions against Myanmar on Monday in response to the country’s recent financial and political reforms. In Luxemburg Michael Link, Germany’s deputy foreign minister was keen to point out that the sanctions were being suspended, not fully lifted. The EU is also keeping its arms embargo in place. More…
Australia's Foreign Minister Bob Car
- Australia will further ease sanctions and move to normalize trade ties with Myanmar following its democratic by-elections, but sanctions will remain on military officials to pressure for further reforms, the government said on Monday.
Foreign Minister Bob Carr said Australia would lift financial restrictions and travel bans against 260 people in Myanmar, including President Thein Sein and civilian reformists within the government. More…
KBZ bank ATM in Yangon, Myanmar
The election success of Burma’s opposition has led to the easing of some sanctions imposed by the United States and pressure from neighboring countries to drop them entirely. Although there is a surge in interest in Burma’s economy from foreign investors, analysts warn there remain major economic and political challenges.
This week, the United States dropped travel bans against some senior Burmese officials and eased restrictions on some U.S. investment and financial services. More…
A Buddhist nun at Sagaing, Myanmar
Easter is upon us, and the Thingyan New Year festivities will follow. After the roller-coaster of the last two weeks, we all need a break. Election observer groups are putting the final touches to their reports, the detailed results of the by-elections have yet to be published and psephologists, amateur and professional, have yet to pronounce. The National League for Democracy is about to make a formal statement. The Election Commission has already admitted that they waxed the USDP box on the ballot paper, thus compelling voters to mark the NLD box instead. More…
